Free Stuff: Business Articles - Think Like a Business Person

Quit thinking like a photographer and start thinking like an entrepreneur! You are not just a photographer, you're a marketer whose product is photography! Your goal is not great photographs, but great profits. If you remember your goal is to make money, you will run your business differently. You will look at each job with its profit margin in mind. Sure you want beautiful photography, but without profit, you won't be in business to provide beautiful photography! I see too many photographers who can create great images, but can't pay their bills! I hope this does not describe you! How can you keep from being unprofitable? Know your numbers! What are your actual cost of doing business? Do monthly profit and loss statements! Price every job so that it is profitable! Set policies so you are in control of your studio!

Six or seven years ago we established our Prime Time/Minimum Order policy in our studio. This changed my life. I get a monetary commitment from my clients before I do the photography. Different times of the day and days of the week have their own Prime Time and Minimum Order. For example: 9am-4pm M-F is Regular time - $200 minimum order; Before 9am and after 4pm is Prime Time - $300 minimum order; Saturdays are Extra Prime Time - $400 minimum order; Sundays and Holidays are Super Prime Time - negotiable.

I will gladly photograph evenings, Saturdays or even Sundays/holidays, but I require a larger order for these more limited times. The concept of Prime Time will work with all the life-cycles in your business. If there are limited or favorite times or days for a product or service, you can charge more. You can limit choices and you can set policies so that you are in control!